Gross Domestic Product Q2:2019
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After shrinking sharply in first quarter of the 2019, the economy rebounded from a low base to record positive growth of 3,1% in the second quarter (April−June). Mining, finance, trade and government services were the main drivers of growth. Three industries (construction, agriculture and transport) registered a slump in production. Listen here for more on GDP: https://soundcloud.com/statssa/gross-domestic-product-gdp-2nd-quarter-2019-english
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Gross Domestic Product Q2:2019
- 1. GDP Q2: 2019 @StatsSA #GDP GDP Q2: 2019 Gross domestic product 2nd quarter 2019 3 September 2019 Embargo: 11:30am
- 3. GDP Q2: 2019 -3,2% in Q1: 2019 (quarter-on-quarter) Seasonally adjusted and annualised -3,1% Previous Revised in Q1: 2019 (quarter-on-quarter) Seasonally adjusted and annualised Revisions for Q1: 2019 GDP production
- 4. GDP Q2: 2019 Revisions for Q1: 2019 GDP production The differences between previous and revised data may not necessarily add up due to rounding-off. Previous Revised Difference General government services 1,2 2,4 1,2 Construction -2,2 -2,0 0,2 Manufacturing -8,8 -8,8 0,0 Mining and quarrying -10,8 -10,8 0,0 Trade, catering and accommodation -3,6 -3,6 0,0 Transport, storage and communication -4,4 -4,4 0,0 Finance, real estate and business services 1,1 1,1 0,0 Personal services 1,1 1,1 0,0 Electricity, gas and water -6,9 -7,4 -0,4 Agriculture, forestry and fishing -13,2 -16,8 -3,6 -3,2 -3,1 0,1 -3,1 -2,8 0,3 -3,2 -3,1 0,1 Down Total value added at basic prices Taxes less subsidies on products GDP at market prices Nochange Industry Q-Q growth Up
- 5. GDP Q2: 2019 Growth figures for Q2: 2019 3,1% in Q2: 2019 (quarter-on-quarter) Seasonally adjusted and annualised 0,9% in Q2: 2019 (year-on-year) unadjusted Real GDP 0,4% in Q2: 2019 (6 month-6 month) Unadjusted, year-on-year Real GDP Real GDP
- 6. GDP Q2: 2019 Mining; finance, real estate and business services; trade and government services were the main drivers behind the 3,1% rise in Q2: 2019 Quarter-on-quarter growth in GDP production Seasonally adjusted and annualised
- 7. GDP Q2: 2019 3,0% 9,7% 1,5% The primary, secondary and tertiary sectors all recorded positive growth rates in Q2: 2019 Sector growth rates Quarter-on-quarter, seasonally adjusted and annualised
- 8. GDP Q2: 2019 1,0 0,9 0,5 -0,1 -0,1 GDP 3,1% LHS: growth rates RHS: contributions 0,0 0,0 Industry growth rates in Q2: 2019 Quarter-on-quarter, seasonally adjusted and annualised 0,5 0,1 0,3
- 9. GDP Q2: 2019 Agriculture: Decreased production was reported for field crops and horticultural products Mining: Iron ore, manganese ore and coal were the main drivers behind the 14,4% rise in mining production Q/Q growth in Q2: 2019, seasonally adjusted and annualised
- 10. GDP Q2: 2019 Manufacturing: Food and beverages; basic iron, steel and machinery; and motor vehicles and parts were the main drivers of growth in Q2: 2019 Electricity, gas and water: A rise in the volume of electricity distributed pushed overall growth up by 3,2% Construction: A decline in activity was reported for non-residential buildings and construction works Q/Q growth in Q2: 2019, seasonally adjusted and annualised
- 11. GDP Q2: 2019 Trade: Buoyant wholesale, retail, motor trade sales and accommodation services contributed to the 3,9% rise in the trade industry Transport: Decreased activity was reported for land transport and transport support services Finance: Financial intermediation, real estate activities and business services contributed to growth Government: The rise in government was partly attributed to increasing employment numbers in the civil service Q/Q growth in Q2: 2019, seasonally adjusted and annualised
- 12. GDP Q2: 2019 Nominal GDP values for Q2: 2019
- 13. GDP Q2: 2019 Agriculture was up by R16 billion to R36 billion Electricity, gas and water was up by R11 billion to R52 billion Government was up by R10 billion to R207 billion Mining was up by R8 billion to R89 billion Nominal GDP was estimated at R1,26 trillion in Q2: 2019, up by R60 billion from Q1: 2019
- 14. GDP Q2: 2019 Which are the largest (and smallest) industries in South Africa? Percentage contribution to total nominal value added in Q2: 2019 Finance and business services 19% Government 18% Trade 15% Manufacturing 13% Transport 9% Mining 8% Personal services 6% Electricity, gas and water 5% Construction 4% Agriculture 3% Percentages have been rounded and may not sum to 100%
- 15. GDP Q2: 2019 GDP Q3 2016 GDP Q2 2017 GDP Q2: 2019 Expenditure on GDP
- 16. GDP Q2: 2019 -3,4% in Q1: 2019 (quarter-on-quarter) Seasonally adjusted and annualised -3,4% Previous Revised in Q1: 2019 (quarter-on-quarter) Seasonally adjusted and annualised Revisions for Q1: 2019 Expenditure on GDP
- 17. GDP Q2: 2019 Revisions for Q1: 2019 Expenditure on GDP The differences between previous and revised data may not necessarily add up due to rounding-off
- 18. GDP Q2: 2019 Growth figures for Q2: 2019 3,0% in Q2: 2019 (quarter-on-quarter) Seasonally adjusted and annualised 0,7% in Q2: 2019 (year-on-year) Unadjusted Expenditure on GDP 0,2% in Q2: 2019 (6 month-6 month) Unadjusted, year-on-year Expenditure on GDP Expenditure on GDP
- 19. GDP Q2: 2019 Growth in Q2: 2019 was spurred on by a build-up of inventories, household expenditure, gross fixed capital formation and government expenditure Quarter-on-quarter growth in expenditure on GDP Seasonally adjusted and annualised
- 20. GDP Q2: 2019 -5,4 LHS: growth rates RHS: contributions Change in inventories: R25,9 billion (contribution: 5,1 percentage points) 1,1 0,6 1,7 -0,2 Expenditure on GDP 3,0% Component growth rates in Q2: 2019 Quarter-on-quarter, seasonally adjusted and annualised
- 21. GDP Q2: 2019 Household final consumption expenditure (HFCE) 2,8% in Q2: 2019 (quarter-on-quarter) Seasonally adjusted and annualised GDP Q3 2016 GDP Q2 2017 GDP Q2: 2019
- 22. GDP Q2: 2019 Household consumption expenditure increased by 2,8% in Q2: 2019, in line with a rise in retail trade and new motor vehicle sales Quarter-on-quarter growth in HFCE Seasonally adjusted and annualised
- 23. GDP Q2: 2019 0,4 0,2 0,2 0,8 0,3 0,5 0,2 0,1 -0,1 0,1 0,0 0,1 LHS: growth rates RHS: contributions 2,8% HFCE by purpose
- 24. GDP Q2: 2019 1,0 0,5 LHS: growth rates RHS: contributions 2,8% HFCE by durability Quarter-on-quarter, seasonally adjusted and annualised 0,9 0,4
- 25. GDP Q2: 2019 Government final consumption expenditure (GFCE) 2,8% in Q2: 2019 (quarter-on-quarter) Seasonally adjusted and annualised GDP Q3 2016 GDP Q2 2017 GDP Q2: 2019
- 26. GDP Q2: 2019 An rise in civil service employment contributed to the 2,8% increase in Q2: 2019 Quarter-on-quarter growth in GFCE Seasonally adjusted and annualised
- 27. GDP Q2: 2019 Gross fixed capital formation (GFCF) in Q2: 2019 (quarter-on-quarter) Seasonally adjusted and annualised 6,1% GDP Q3 2016 GDP Q2 2017 GDP Q2: 2019
- 28. GDP Q2: 2019 Fixed capital formation grew by 6,1% in Q2: 2019, driven largely by investments in machinery and equipment, transport equipment and residential buildings Quarter-on-quarter growth in GFCF Seasonally adjusted and annualised
- 29. GDP Q2: 2019 2,1 5,8 0,0 -1,1 -0,6 -1,0 LHS: growth rates RHS: contributions 6,1% GFCF by asset type Quarter-on-quarter, seasonally adjusted and annualised 0,9
- 30. GDP Q2: 2019 Change in inventories R25 999 million in Q2: 2019 (quarter-on-quarter) Seasonally adjusted and annualised GDP Q3 2016 GDP Q2 2017 GDP Q2: 2019
- 31. GDP Q2: 2019 Change in inventories (R million) In Q2: 2019, the were large inventory build-ups for the mining and trade
- 32. GDP Q2: 2019 in Q2: 2019 (quarter-on-quarter) Seasonally adjusted and annualised in Q2: 2019 (quarter-on-quarter) Seasonally adjusted and annualised Exports Imports -0,7% 18,8% GDP Q3 2016 GDP Q2 2017 GDP Q2: 2019
- 33. GDP Q2: 2019 Exports decreased by 0,7% in Q2: 2019, largely influenced by a fall in the trade of pearls, precious & semi-precious stones Quarter-on-quarter growth in exports Seasonally adjusted and annualised
- 34. GDP Q2: 2019 Imports of goods and services jumped by 18,8% in Q2: 2019, driven mostly by a rise in trade of machinery and electrical equipment, mineral products and chemical products Quarter-on-quarter growth in imports Seasonally adjusted and annualised
- 36. GDP Q2: 2019 Quarter-on-quarter, seasonally adjusted and annualised GDP and expenditure on GDP growth rates
- 37. GDP Q2: 2019 Growth figures for Q2: 2019 3,1% in Q2: 2019 (quarter-on-quarter) Seasonally adjusted and annualised 0,9% in Q2: 2019 (year-on-year) unadjusted Real GDP 0,4% in Q2: 2019 (6 month-6 month) Unadjusted, year-on-year Real GDP Real GDP
- 38. GDP Q2: 2019 Utilities Mining Agriculture Transport Private households Construction Manufacturing Finance Trade Services 0,9% 2,3% 5,2% 6,0% 7,7% 8,4% 11,0% 15,3% 21,0% 22,2% Utilities Mining Agriculture Transport Private households Construction Manufacturing Finance Trade Community and social services Employment shares, Q1:2018 Employment and GDP share per industry, Q2: 2019 Share of nominal GDP 24,1% 14,6% 19,4% 12,8% 4,1% 9,5% 3,1% 7,8% 4,5% Employment shares Percentages have been rounded and may not sum to 100% Employment shares: Quarterly Labour Force Survey (QLFS), 2nd quarter 2019